Hi, @toddlerner!
To connect your bank for reconciliation, QuickBooks automatically download transactions up to a certain date. Yes, You need to pull in the bank transactions when you switched to Quickbooks Online(QBO). Here's how to connect your bank account and reconcile them:
1.Go to Transactions Menu, and then click Banking.
2.Under Link account,and select Upload from file.
3.In Securely connect your bank, click connect.
4.Search for your bank.
5.Select Continue. Enter the username and password you use for your bank's website in the window.
6.Click how far back you want to download transactions.
7.Select Connect.
Here's how to Reconcile:
1.Select Settings ⚙ ,and then Reconcile. If you're reconciling for the very first time, select Get started to continue.
2.From the Account ▼ dropdown, select the account you want to reconcile. Make sure it's the same one on your statement.
3.Review the Beginning balance. Make sure the beginning balance in QuickBooks matches the one on your statement.
4.Enter the Ending balance and Ending date on your statement. Some banks call the ending balance a "new balance.
5.If you see it, review the Last statement ending date. This is the end date of your last reconciliation. Your current bank statement should start the day after.
6.When you're ready to start, select Start reconciling.
Here's how to get started. Or check out our complete reconciliation guide and
how to reconcile older transactions so everything stays balanced.
Feel free to let us know if you need more assistance with this.
